Tune Protect Group is poised to resume its uptrend movement as it climbed above the 21-day SMA line and attempting to cross above the MYR0.445 immediate resistance yesterday. If a breakout above that level happens, the momentum may drive the stock up towards the recent high of MYR0.47 before reclaiming the MYR0.535 next resistance – the highest level since 16 Nov 2021. Towards the downside, a breach below the MYR0.42 support will negate the bullish setup, forming a “lower low” bearish pattern below the 21-day SMA line.

Source: RHB Securities Research - 4 Oct 2023